IllinoisState treasurer may invest funds in some foreign bonds
The law allows the State Treasurer to invest eligible state funds in listed options, including some foreign government bonds and obligations of certain Illinois institutions.
What it does
The State Treasurer may invest eligible state money in bonds from some foreign governments, if they have paid similar debts on time for at least 25 years.
The State Treasurer may invest eligible state money in direct obligations of certified community development finance institutions and federally designated minority depository institutions operating in Illinois.
Argument forThe Treasurer may invest eligible funds in some foreign government bonds, giving the state another permitted investment option.
Argument againstForeign government bonds could put eligible public funds at risk if a government later fails to repay, even after a long record of timely payments.
More detail
The State Treasurer may invest eligible state money in certain foreign government bonds. This covers state money not needed for current expenses and money set aside to pay principal and interest on state bonds. The foreign government cannot be Sudan and must have avoided default and paid similar obligations on time for at least 25 years immediately before the investment.
The State Treasurer may invest in direct obligations of certain financial institutions operating in Illinois. This covers state money not needed for current expenses and money set aside to pay principal and interest on state bonds. A community development financial institution must be certified by the U.S. Treasury fund named in the law. A minority depository institution must be designated by the Federal Deposit Insurance Corporation.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Aug 25Public Act . . . . . . . . . 104-0853Latest
- Aug 25Effective Date August 25, 2026
- Aug 25Governor J. B. Pritzker ApprovedBecame Law
- Jun 29Sent to the GovernorTo Governor
- May 31Passed Both Houses
- Vote recorded Concurrence, Amendment 1. Result: pass.Upper
- May 31Senate Concurs
- May 31House Floor Amendment No. 1 Senate Concurs 051-006-000
- May 29House Floor Amendment No. 1 Motion To Concur Recommended Do Adopt State Government; 007-000-000
- Vote recorded Do Pass, Amendment 1. Result: pass.Upper
- May 28House Floor Amendment No. 1 Motion to Concur Assignments Referred to State Government
- May 28House Floor Amendment No. 1 Motion to Concur Referred to Assignments
- May 28House Floor Amendment No. 1 Motion to Concur Filed with Secretary Sen. Ram VillivalamMinor
- May 22Placed on Calendar Order of Concurrence House Amendment(s) 1 - May 25, 2026
- Vote recorded Third Reading. Result: pass.Lower
- May 22Secretary's Desk - Concurrence House Amendment(s) 1
- May 22Third Reading - Short Debate - Passed 073-026-000Passed House
- May 21Placed on Calendar Order of 3rd Reading - Short Debate
- May 21House Floor Amendment No. 1 Adopted by Voice VoteMajor
- May 20House Floor Amendment No. 1 Recommends Be Adopted State Government Administration Committee; 008-000-000Minor
- Vote recorded Do Pass, Amendment 1. Result: pass.Lower
- May 20Added Alternate Chief Co-Sponsor Rep. Elizabeth "Lisa" Hernandez
- May 20Added Alternate Chief Co-Sponsor Rep. Rick Ryan
- May 20Added Alternate Chief Co-Sponsor Rep. Diane Blair-Sherlock
- May 20Added Alternate Chief Co-Sponsor Rep. Marcus C. Evans, Jr.
- May 19Held on Calendar Order of Second Reading - Short DebateMinor
- May 19Second Reading - Short DebateMinor
- May 19House Floor Amendment No. 1 Rules Refers to State Government Administration Committee
- May 15House Floor Amendment No. 1 Referred to Rules Committee
- May 15House Floor Amendment No. 1 Filed with Clerk by Rep. Kevin John OlickalMinor
- May 14Placed on Calendar 2nd Reading - Short DebateMinor
- May 13Do Pass / Short Debate State Government Administration Committee; 008-000-000
- Vote recorded Do Pass. Result: pass.Lower
- May 7Committee Deadline Extended-Rule 9(b) May 15, 2026
- May 5Assigned to State Government Administration CommitteeMinor
- May 5Referred to Rules Committee
- May 5First ReadingMinor
- Apr 30Chief House Sponsor Rep. Kevin John Olickal
- Apr 29Arrived in HouseMinor
- Vote recorded Third Reading. Result: pass.Upper
- Apr 29Third Reading - Passed; 047-007-000Passed Senate
- Apr 17Rule 2-10 Third Reading Deadline Established As May 8, 2026
- Apr 16Placed on Calendar Order of 3rd Reading April 17, 2026
- Apr 16Second ReadingMinor
- Apr 15Placed on Calendar Order of 2nd Reading April 16, 2026Minor
- Vote recorded Do Pass, Amendment 1. Result: pass.Upper
- Vote recorded Do Pass. Result: pass.Upper
- Apr 15Do Pass as Amended State Government; 008-000-000
- Apr 15Senate Committee Amendment No. 1 AdoptedMajor
- Mar 27Rule 2-10 Committee Deadline Established As April 24, 2026
- Mar 13Rule 2-10 Committee Deadline Established As March 27, 2026
- Mar 11Senate Committee Amendment No. 1 Assignments Refers to State Government
- Mar 10Senate Committee Amendment No. 1 Referred to Assignments
- Mar 10Senate Committee Amendment No. 1 Filed with Secretary by Sen. Ram VillivalamMinor
- Mar 10Assigned to State GovernmentMinor
- Jan 29Referred to Assignments
- Jan 29First ReadingMinor
- Jan 29Filed with Secretary by Sen. Ram VillivalamIntroduced
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